HUL withdraws Knorr noodles; stock up 1%

The discontinuance of manufacturing and sale of instant noodles is not based on safety or quality concerns, HUL said

Shares of FMCG major HUL are trading higher by 1% at Rs 828 on the BSE in an otherwise falling market, after the company decided to withdraw its range of Knorr instant noodles from the market awaiting product approval from the Food Safety and Standards Authority of India (FSSAI). CLICK FOR FULL REPORT

HUL opened at Rs 821 and touched a high of 837 on the BSE.Meanwhile, the company clarified that the discontinuance of manufacturing and sale of Chinese instant noodles is not based on safety or quality concerns.

The FSSAI on Monday had passed an order to test different brands of noodles, pastas and macaronis. The central food safety regulator listed 33 items manufactured by 7 companies approved by it in these categories, where HUL's Chinese range of Knorr instant noodles is not listed.

 

Previously, FSSAI had banned Maggi terming it unsafe and hazardous for human consumption after detecting high levels of lead and presence of taste enhancer monosodium glutamate (MSG). Shares of Nestle are trading with marginal gains on the BSE.